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Anticipation of VanEck BTC Strategy ETF's upcoming debut may have boosted investors' sentiments across the board, as the price of Bitcoin rallied to $63k before retreating to a narrow range, trading above the $62k support. However, BTC dominance has declined from its July high of 48% to the current 45%, confirming a recent rotation into altcoins. Indeed, canine-inspired memecoins are gaining traction once again, as short-term investors look to capitalize on soaring market speculations amidst rising risk tolerance in the markets. This current rally is likely fuelled by risk-seeking whale activities and the general bullish market outlook. As for the sustainability of the rally, historical patterns paint a less rosy picture. In May of this year, canine-inspired collectively mooned when the broader market basked in the euphoria of BTC's price resurgence. However, these coins ultimately nosedived, almost equally as abruptly, when the sentiments cooled off.